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Assume that on July 1, 2021, Togo's Sandwiches Issues a $2.12 million, one-year note. Interest is payable at maturity. Determine the amount of Interest expense

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Assume that on July 1, 2021, Togo's Sandwiches Issues a $2.12 million, one-year note. Interest is payable at maturity. Determine the amount of Interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions: (Enter your answers in dollars, not in millions. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Fiscal Year- End Interest Expense Interest Rate 8% December 31 1. 9% September 30 2. 3. 4% October 31 8% January 31 4

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